MONTREAL, Feb. 10 /CNW Telbec/ - SUB Capital Inc. ("SUB" or the "Corporation") (NEX: SUB.H), wishes to announce that the Corporation has negotiated a non-brokered private placement of up to 7,200,000 units at $0.09 per unit. Each unit will be comprised of one common share of the company and one full warrant entitling its holder to acquire one share of SUB for $0.125 for a period of 12 months following its issuance. A finder's fee will be paid in connection with this private placement. Proceeds from the private placement will be used to pay off the Corporation's existing debts and to provide the Corporation with working capital to enable it to move forward and find and develop a new business. The private placement is subject to regulatory approval.
Concurrently, Management wishes to announce that Mr. Gunther Roehlig has been appointed a director of the Corporation. Mr. Roehlig replaces Mr. Yves Marmet, who resigned today as director. Management wishes to thank Mr. Marmet for his contributions to the Corporation. The rest of the Corporation's board of directors remains unchanged. Mr. Roehlig has more than 15 years experience in the financial and investment industry, with a strong background in managing and financing junior companies.
This press release contains "Forward-Looking Statements" pursuant to the securities legislation which are based on certain estimates and expectations. Statements which are not based on historical fact, in particular statements on management's views and expectations, are Forward-Looking Statements. These statements are subject to certain risks and uncertainties and the actual results could differ materially from those presented. The Corporation is under no obligation to update any Forward-Looking Statement to take into account any new information, future event or any other factor.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CAPITAL SUB INC.
For further information: For further information: Valier Boivin, Director, SUB Capital Inc., (514) 844-5468, firstname.lastname@example.org